What Is Equity?

Equity can be described as the value of your house minus any outstanding mortgage. A retirement equity release can provide you with a lump sum of cash if you are retired and own your own home. This equity release comes in different forms, under different equity release schemes that provide different rates of equity release rate. There are various reasons a retired home owner would consider an equity release. For instance, he/she could desire a steady source of reasonable income and an equity release that comes with a good equity release rate can provide such a desired stream of income.